Most financial analysts predicted the bank's earnings to be around $6.3 billion.

Bank of America also said Monday it will open 500 new branches and expand into new market locations in Cincinnati, Cleveland, Columbus, Denver, Indianapolis, Lexington, Minneapolis-St. Paul, Pittsburgh and Salt Lake City.

Other banks also hauled in large earnings this year. JP Morgan Chase -- the United States' largest bank -- reported a profit of $8.7 billion; Citigroup disclosed $4.6 billion in earnings.